Mapletree Logistics Trust to shrink China footprint to rejuvenate portfolio
MLT’s manager sees potential opportunities in emerging markets such as Vietnam and India
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MAPLETREE Logistics Trust (MLT), whose earnings have been weighed down by an economic slowdown in China, plans to divest about S$1 billion worth of its assets – of which about half will be from China and Hong Kong.
The remaining assets identified for divestment are from Malaysia and Singapore, with a smaller proportion from Australia, Japan and South Korea.
Jean Kam, the chief executive officer of the trust’s manager, said on Wednesday (Oct 23) that these countries have assets which are “no longer relevant” to MLT’s portfolio.
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